Gamuda posts lower profit of RM173m in Q2
KUALA LUMPUR, March 27 — Gamuda Bhd’s net profit declined 23 per cent year-on-year to RM173.14 million for the second quarter ended Jan 31, 2019, as the group had stopped recognising its share of Syarikat Pengeluar Air Selangor Holdings Bhd profits.
Meanwhile, profit from operations fell 10 per cent to RM162.51 million from RM179.95 million a year earlier, Gamuda said in its latest financial report to Bursa Malaysia today. The company said year-to-date, overseas projects contributed two-thirds of group property sales, driven by the robust sales of its two projects in Vietnam, namely Celadon City in Ho Chi Minh City and Gamuda City in Hanoi.
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